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@Ritchie Zhu · Jul 28, 2014 · 7 min read

How Personal Loans Are Handled in Bankruptcy. Personal loans you get from lenders, family members and friends are dischargeable in bankruptcy, too. However, you may not want to default on loans you have gotten from family and friends.

Before filing Chapter 7 bankruptcy, you may be tempted to repay those loans from family members or friends. However, there can be severe consequences if you do so. You should get legal advice before paying a loan to a family member or friend. An attorney at our firm can review your situation and provide guidance on the legal steps you can take, as well as those to avoid when planning to file bankruptcy.

This website is not an offer to lend. WhiteRockLoans. com is not a lender and does not make loan or credit decisions. WhiteRockLoans. com connects interested persons with a lender from its network of approved lenders.

WhiteRockLoans. com does not control and is not responsible for the actions or inactions of any lender, is not an agent, representative or broker of any lender, and does not endorse any lender. WhiteRockLoans. com receives compensation from its lenders, often based on a ping-tree model similar to Google AdWords where the highest available bidder is connected to the consumer.

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